Mobile World Investment Corporation (Mobile World, HSX: MWG) is the leading retail enterprise in Vietnam, having an ecosystem to meet the diverse needs of customers. We update our recommendation to BUY with the target price of VND 50,400.
For future prospects, MWG is an attractive investment as: (i) The economy recovery helps stimulate the consumer demand, leading to the competition in selling price among retailer to be cooled down gradually. The profit margin of MWG is expected to be accelerated in 2024; (ii) Bach hoa Xanh chain's business results continuously maintain positive growth momentum.
In Q4.23, MWG has prepared selling plans towards the new iPhone 15 model; continuing to exploit the household goods category to enhance profit margin; optimizing opex; postponing the expansion of new retail stores in all chains.
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